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Former Jacksonville banker pleads guilty to $10.5M embezzlement; ordered to lay off pot

Former Fifth Third Bank Vice President Christopher Boston worked at this bank at 9716 San Jose Blvd.

Ex-Jacksonville banker Christopher David Boston pleaded guilty in federal court Wednesday afternoon to a nearly four-year scheme involving the embezzlement of at least $10.5 million from his job at Fifth Third Bank.

Boston, 40, signed a plea agreement about two weeks ago charging him with bank fraud and formally entered the plea Wednesday before U.S. Magistrate Judge Joel Toomey.

Boston, never arrested, was asked to sign a $20,000 signature bond. Prosecutors didn't seek detention since they considered him neither a threat to the community nor, with a 2-year-old son, a flight risk. But Toomey ordered him to turn over his passport.

Toomey also ordered Boston not to use drugs or alcohol. Prosecutor Mark Devereaux told Toomey that Boston frequently used marijuana and did so recently in combination with alcohol. Defense attorney Harry Shorstein said Boston used pot in high school and started again because of the investigation. Shorstein said Boston used pot as a sleep aide.

Boston declined to discuss the case as he walked swiftly from the courthouse into a waiting truck. The truck’s driver, who declined to identify himself, said he coached baseball with Boston and described him as a good person.

Boston coached youth baseball at the Mandarin Athletic Association, where a stepson played, and recently served as the park’s all-stars director. David Miller, a friend and member of the association, said Boston was occasionally “high-strung” on the field but was well-liked by fellow coaches, parents and players.

“I really have no clue as to what went wrong,” said Miller, 53. “He’s really a nice guy.”

Boston, wearing a two-piece pinstripe suit, didn't speak in court other than answering the judge with "Yes, sir" to a series of questions. He faces up to 30 years in prison and a $4.4 million fine. A sentencing date has not been set.

Boston is accused of operating a bank fraud scheme that included stealing at least $10.5 million from one corporate account and transferring money from two individual accounts to cover the original thefts. The embezzlement occurred over 3 1/2 years ending in April 2013 at the Fifth Third Bank off San Jose Boulevard in north Mandarin.

A victim of the scheme whose husband lost and then got back nearly $6 million told the Times-Union Boston’s actions devastated her family and refuted any notion of him being considered a Robin Hood-like character for helping his customers.

Court records show that Boston used $210,000 to make $2,000 monthly mortgage payments on his family’s Mandarin home, install a backyard pool and for other expenses. The home on Emilys Crossing Court was turned over to Boston’s wife in a divorce last year and Boston said he’s now living in another Mandarin home in the 11500 block of Summer Brook Court.

Prosecutors said Boston used the rest of the embezzled money to help his customers, and ultimately his own standing in the bank, with favors such as paying off troubled loans and making “off-book” loans to those whose applications had been denied.

The bank replenished the embezzled accounts and had arranged new loans with Boston’s customers, recovering all but about $2 million, which is federally insured, court records show.